DEVELOPING MARKETING STRATEGY TO ACQUIRE POTENTIAL CUSTOMERS UNDER 35 YEARS OLD FOR DIETARY SUPPLEMENTS COMPANY: CASE STUDY OF 4LIFEINDONESIA
The current market trend of dietary supplements was driven by the segment of people under 35 years old and their rising awareness of health, well-being, and performance enhancement. This market research focuses on the marketing strategy that can be applied by 4Life Indonesia, a dietary supplem...
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| Format: | Theses |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/80907 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | The current market trend of dietary supplements was driven by the segment of people under 35
years old and their rising awareness of health, well-being, and performance enhancement. This
market research focuses on the marketing strategy that can be applied by 4Life Indonesia, a dietary
supplement company headquartered in the United States, in acquiring these potential customers
and increasing the company’s revenue. The primary research objective is to comprehend the under35 market's purchasing behavior, as well as propose suitable value propositions and a marketing
strategy. This research combines qualitative interviews with 12 potential customers and a
quantitative online questionnaire with 110 participants. Tools such as PESTLE, Porter’s Five
Forces, and Competitive Profile Matrix (CPM) were used to analyze the external environment of
the company. Customer Journey 5A was used to analyze the customer’s journey. Marketing Mix
4P, STP, Value Chain Analysis, and VRIO were used to analyze the internal environment. SWOT
analysis was later developed from these results to create the possible value proposition and
marketing strategy. Findings reveal economic, sociocultural, and technological influences on the
segment’s behavior, as well as the product uniqueness, personalization, recommendation, and
online reviews. The proposed value proposition focuses on high-quality ingredients, extensive
research, transparent labeling, and customer-centric features. The proposed strategic marketing is
a differentiation strategy, aiming to raise awareness of 4Life Indonesia’s brand. These research
findings will help 4Life Indonesia to acquire and strategically position itself as a unique preventive
health solution to the segment under 35 years old, fostering sustained growth of the company. |
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